£238 in 1963 → £4,942.56 in 2019

UK Inflation Calculator

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£238 in 1963 → £4,942.56 in 2019

UK Inflation Rate, £238 in 1963 to 2019

According to the Office for National Statistics composite price index, today's prices in 2019 are 1,976.71% higher than average prices throughout 1963. The pound experienced an average inflation rate of 5.57% per year during this period, meaning the real value of a dollar decreased.

In other words, £238 in 1963 is equivalent in purchasing power to about £4,942.56 in 2019, a difference of £4,704.56 over 56 years.

The 1963 inflation rate was 1.89%. The current inflation rate (2018 to 2019) is now 1.80%1. If this number holds, £238 today will be equivalent in buying power to £242.28 next year.


Inflation from 1963 to 2019
Cumulative price change 1,976.71%
Average inflation rate 5.57%
Converted amount (£238 base) £4,942.56
Price difference (£238 base) £4,704.56
CPI in 1963 54.000
CPI in 2019 1,121.422
Inflation in 1963 1.89%
Inflation in 2019 1.80%

UK inflation chart from 1988 to 2017. Based on the UK Consumer Price Index.


Buying power of £238 in 1963

This chart shows calculation of buying power equivalence, often referred to as "the value of a pound" over time for £238 in 1963 (price index tracking began in 1750).

According to the Office for National Statistics, each of these GBP amounts below is equal in terms of what it could buy at the time:

Year Pound Value Inflation Rate
1963 £238.00 1.89%
1964 £245.93 3.33%
1965 £257.39 4.66%
1966 £267.53 3.94%
1967 £274.58 2.64%
1968 £287.36 4.65%
1969 £302.79 5.37%
1970 £322.18 6.40%
1971 £352.59 9.44%
1972 £377.71 7.13%
1973 £412.09 9.10%
1974 £478.20 16.04%
1975 £594.12 24.24%
1976 £692.40 16.54%
1977 £802.15 15.85%
1978 £868.70 8.30%
1979 £985.06 13.39%
1980 £1,162.23 17.99%
1981 £1,300.19 11.87%
1982 £1,412.13 8.61%
1983 £1,476.92 4.59%
1984 £1,550.53 4.98%
1985 £1,644.84 6.08%
1986 £1,700.82 3.40%
1987 £1,771.78 4.17%
1988 £1,858.60 4.90%
1989 £2,003.17 7.78%
1990 £2,192.69 9.46%
1991 £2,321.38 5.87%
1992 £2,408.21 3.74%
1993 £2,446.55 1.59%
1994 £2,505.61 2.41%
1995 £2,592.44 3.47%
1996 £2,655.02 2.41%
1997 £2,738.32 3.14%
1998 £2,832.20 3.43%
1999 £2,875.83 1.54%
2000 £2,960.90 2.96%
2001 £3,013.34 1.77%
2002 £3,063.59 1.67%
2003 £3,152.18 2.89%
2004 £3,246.06 2.98%
2005 £3,337.73 2.82%
2006 £3,444.39 3.20%
2007 £3,592.04 4.29%
2008 £3,735.28 3.99%
2009 £3,715.44 -0.53%
2010 £3,886.89 4.61%
2011 £4,089.19 5.20%
2012 £4,220.53 3.21%
2013 £4,348.79 3.04%
2014 £4,451.48 2.36%
2015 £4,495.56 0.99%
2016 £4,573.57 1.74%
2017 £4,737.52 3.58%
2018 £4,855.17 2.48%
2019 £4,942.56 1.80%*
* Compared to previous annual rate. Not final. See inflation summary for latest 12-month trailing value.
Click to show 50 more rows

How to Calculate Inflation Rate for £238 since 1963

This inflation calculator uses the following inflation rate formula:

CPI in 2019CPI in 1963
×
1963 GBP value
=
2019 GBP value

Then plug in historical CPI values. The UK CPI was 54 in the year 1963 and 1121.4220303 in 2019:

1121.422030354
×
£238
=
£4,942.56

£238 in 1963 has the same "purchasing power" or "buying power" as £4,942.56 in 2019.

To get the total inflation rate for the 56 years between 1963 and 2019, we use the following formula:

CPI in 2019 - CPI in 1963CPI in 1963
×
100
=
Cumulative inflation rate (56 years)

Plugging in the values to this equation, we get:

1121.4220303 - 5454
×
100
=
1,977%

News headlines from 1963

Politics and news often influence economic performance. Here's what was happening at the time:

  • Iran is besieged and Ayatollah Khomeini is arrested.
  • President John F. Kennedy says segregation is morally wrong and appeals for action.
  • Sarawak is granted independence from British colonial rule.
  • The "I have a dream" speech is delivered by Martin Luther King Jr addressing civil rights march in Washington.
  • John F. Kennedy is assassinated by Lee Harvey Oswald in Dallas.

Data Source & Citation

Raw data for these calculations comes from the composite price index published by the UK Office for National Statistics (ONS). A composite index is created by combining price data from several different published sources, both official and unofficial. The Consumer Price Index, normally used to compute inflation, has only been tracked since 1988. All inflation calculations after 1988 use the Office for National Statistics' Consumer Price Index, except for 2017, which is based on The Bank of England's forecast.

You may use the following MLA citation for this page: “£238 in 1963 → 2019 | UK Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 21 Nov. 2019, https://www.officialdata.org/uk/inflation/1963?amount=238.

Special thanks to QuickChart for providing downloadable chart images.

in2013dollars.com is a reference website maintained by the Official Data Foundation.


About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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» Read more about inflation and investment.

Inflation from 1963 to 2019
Cumulative price change 1,976.71%
Average inflation rate 5.57%
Converted amount (£238 base) £4,942.56
Price difference (£238 base) £4,704.56
CPI in 1963 54.000
CPI in 2019 1,121.422
Inflation in 1963 1.89%
Inflation in 2019 1.80%
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